(Yicai Global) Oct. 20 -- The People's Bank of China set the yuan at its strongest point against the US dollar in more than 18 months this morning.

The PBOC fixed the central parity rate at 6.6930, 80 bips stronger for the redback from yesterday.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

Editor: Emmi Laine